​Groupama, RCA’s market leader since the bankruptcy of Euroins, with approximately 1,500 employees, announced on Tuesday that it had achieved a profit of 164 million lei in the first nine months of last year compared to the same period of the previous year. . “The last few years have been a real lesson for all of us, especially the last period, which has shown us once again how close the unexpected can sometimes be,” said Céline Mathieu, CEO of the French insurance company.

The total value of gross premiums signed by Groupama in the first 9 months of 2023 reached 2.87 billion lei, an increase of more than 30% compared to the same period in 2022, and the profit was 164 million lei.

How Groupama explains RCA’s success: a fair price that reflects a high level of claim frequency compared to the EU average

RCA’s compulsory car insurance sales generated the largest share of total revenue, reaching 1.65 billion lei.

• “In 2023, Groupama continued to register growth in the number of subscriptions also in the RCA line, which took responsibility in the normalization process of the market and confirms the customer preference for the Groupama offer, which respects the principle of quality at a fair price and which reflects a very high frequency of claims compared to the average in Europe,” says the insurer.

Outside of RCA, the company’s revenues for the first 9 months of 2023 show a growth of more than 25%, reaching a value of 1.22 billion lei, mainly supported by the CASCO, property, personal and travel insurance business lines.

The CASCO line made a significant contribution to the overall results, achieving growth of approximately 28% in the first 9 months of 2023. The line of property insurance also registered positive dynamics, noting an increase of approximately 19%.

At the same time, the results recorded in the line of personal insurance for the first 9 months of 2023 confirm the growing interest of Romanians in this type of insurance and a greater openness to risk prevention. Health insurance grew by about 33% and life insurance also grew by over 8%.

Wave of fines received by Groupama in December 2023, including for late payment of RCA / Insurer reaction

Last December, Groupama received three fines from the ASF, including for delays in paying RCA losses. In a response sent to HotNews.ro, the insurer stated that these are operational errors that are exceptions in the context of the daily volume of approved claims, which they treat carefully so as not to repeat them.

Representatives of the French insurance company Groupama argued that “errors also occur, mostly human, which are exceptional in the context of the volumes we deal with every day (for example, in a typical month we register more than 16,000 claims of damage to general insurance alone), exceptions, which we treat with due attention and treat as a priority.”

Read also:

• A wave of fines for Groupama, the new RCA leader: ASF found irregularities in the payment of claims, reporting of external transactions and the inventory of the reserve of claims / Groupama’s response
• Groupama’s response to RCA late payment fines: Errors constituting exceptions to daily approved claims volume